Section 127
False or fraudulent statements in application for life or endowment insurance; penalties

Section 127. An insurance agent, examining physician or other person who knowingly or wilfully makes a false or fraudulent statement or representation in or relative to any application for life or endowment insurance, or who makes any such statement for the purpose of obtaining a fee, commission or money, or benefit in a company transacting such business under this chapter, shall be punished by a fine of not less than one hundred nor more than five hundred dollars or by imprisonment for not less than one month nor more than one year, or both; and a person who wilfully makes a false statement of any material fact or thing in a sworn statement as to the death or disability of a policyholder in any such company, for the purpose of procuring payment of a benefit named in the policy, shall be guilty of perjury.